Chinese Banks Readying Bond Sales for Launch of Southbound Link
- ICBC, BOC are planning Dim Sum bond sales in Hong Kong: people
- A southbound link would complete bond connect started in 2017
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Two large Chinese state banks are planning to sell offshore yuan bonds in Hong Kong as soon as next week, a move that could set in motion the launch of a new channel for mainland investors to buy offshore debt.
Industrial & Commercial Bank of China Ltd. and Bank of China Ltd. are looking to issue the so-called Dim Sum notes that will be available for purchase by onshore investors through a new trading link, according to people familiar with the matter. The plans aren’t finalized and are subject to change, the people said, asking not to be identified because the details are private.